ANNOUNCEMENT 01 Jan 2009

In 2009, the government subsidies received by Chinese listed company DFAC changed significantly.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

DFAC financial disclosure statements found in the WIND database (www.wind.com.cn). Last accessed on 25 June 2019.

Inception date: 01 Jan 2009 | Removal date: 31 Dec 2009

Financial grant

In 2009, the Shangai-listed company DFAC disclosed in its stock exchange filings the receipt of approximately 147 million USD of government subsidies. This represented a significant increase in the government subsidies obtained in the prior year (74 million USD).

In China it is a legal requirement that publicly-listed firms report any subsidies received from government bodies. The stated subsidy amounts refer to a given calendar year. It is possible that this firm received other forms of state aid that have not been declared.

The affected products and sectors have been chosen based on the "main products" and CSRC sector classification reported in the financial data of the firm. The subsidy amounts in USD were computed using the year-average exchange rate to the Chinese Yuan. The subsidy amount(s) reported here are the cash equivalents as estimated by the recipient firm.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory.

AFFECTED SECTORS

 
491 492 493 495 499

AFFECTED PRODUCTS

 
860791 870210 870290 870310 870322 870323 870324 870332 870333 870390 870421 870422 870423 870431 870490 870510 870590 870810 870821 870829 870830 870840 870850 870870 870880 870891 870892 870893 870894 870895 870899 871639 871640 871680 871690 890120
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